Magnetic drill presses perform drilling operations by latching a magnetic base of the drill press to a ferromagnetic workpiece. Such magnetic bases use electromagnets or permanent magnets for generating a magnetic field. Before latching the magnetic base to the workpiece, the user aligns the drill press with the workpiece and attempts to ensure that a drill bit supported by the drill press will intersect the workpiece at a desired location on the workpiece. However, alignment of the drill press can be a matter of trial-and-error which takes time and does not always ensure the drill bit will intersect the workpiece at the desired location.